Catalyst Metals has reported record-breaking production at its Plutonic Gold Belt project in Western Australia, doubling quarterly output since taking over the asset three years ago.
In its fiscal year 2026 production update, the company reported a record June quarter, producing 31,812 ounces of gold. This pushed total annual production to 104,000 ounces, sitting squarely within Catalyst’s full-year guidance of 100,000 to 110,000 ounces.
The performance represents the highest quarterly and annual yields seen at the Plutonic operations since 2013, back when the project was owned by international mining heavyweight Barrick Gold.
Catalyst management praised the operational turnaround, highlighting that quarterly production has effectively doubled from the 15,000 ounces recorded per quarter just three years prior under previous ownership.
The stellar operational run has significantly bolstered the company’s balance sheet. Catalyst reported cash and bullion reserves of AU$323 million as of June 30, marking a robust AU$46 million increase over the quarter and an AU$85 million surge over the last six months.
Now entirely debt-free, the miner also holds an undrawn AU$100 million credit facility, lifting its total liquidity to an enviable AU$423 million.
Production for the quarter was fed from four distinct operations across the belt: Plutonic Main, Plutonic East, the Trident open pit, and the K2 underground mine.
The company’s hub and spoke processing model was further validated as K2 successfully transitioned from development into active ore production during the period, yielding higher-than-forecast recovery rates alongside excellent performance from Trident’s open pit ore.
Looking ahead, the miner is eyeing further expansion. Approvals and early development are already progressing across three upcoming pipeline projects: the Trident underground deposit, Old Highway, and Cinnamon.
Upgrades at the primary Plutonic processing plant, including new secondary and tertiary crushers installed during an extended shutdown in April, are reportedly performing well and setting up the operation for sustained long-term growth.